China agree to accommodate Pakistan’s concerns on FTA

Breaking News – Karachi (NEWZ247) After intense negotiations, China on Thursday agreed to accommodate the demands of Pakistani exporters in the amended Free Trade Agreement (FTA) which is expected to be signed in March, a press release issued by the Ministry of Commerce said.

The demands and concerns of local exporters were shared during the 9th round of two-day negotiations on China-Pakistan Free Trade Agreement which began on Wednesday.

The Pakistani delegation was led by Secretary Commerce Mohammad Younus Dagha while the Chinese side was headed by Vice Minister for Commerce Wang Shouwen.

The demands included provision for tariff concessions equivalent to Asean countries.

Mr Dagha suggested incorporating clauses for safeguarding Pakistani industries and the economy from any undue pressure on the balance of payments position, the release said.

Various industries and chambers provided input to the commerce ministry during pre-negotiation consultations for protection of the local industry from Chinese imports by disallowing tariff concessions on several products.